Jefferies Financial Group Inc. Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its stake in NIKE, Inc., selling over 310,000 shares and now holding just 12,399 shares, which are valued at approximately $787,000.
• NIKE's stock recently traded at $75.51, up by $1.13, with a market cap of $111.52 billion, although the stock has experienced a decline of 11.9% in quarterly revenue compared to the previous year.
• Analyst ratings for NIKE show a mix of opinions, with one sell, twelve holds, and seventeen buy ratings, indicating a consensus price target of $78.22.

Jefferies Financial Group Inc. lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 96.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,399 shares of the footwear maker's stock after selling 310,023 shares during the quarter. Jefferies Financial Group Inc.'s holdings in NIKE were worth $787,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NKE. Capital World Investors lifted its position in shares of NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Northern Trust Corp raised its holdings in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after acquiring an additional 1,183,641 shares in the last quarter. Flossbach Von Storch SE raised its holdings in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after acquiring an additional 1,988,547 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in NIKE in the first quarter valued at approximately $509,051,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.18 during midday trading on Friday, hitting $74.17. 6,733,814 shares of the stock were exchanged, compared to its average volume of 11,448,546. The stock has a market cap of $109.54 billion, a P/E ratio of 34.34, a PEG ratio of 2.70 and a beta of 1.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a 50 day moving average price of $69.70 and a 200-day moving average price of $67.64.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio is currently 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Williams Trading dropped their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Berenberg Bank started coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Needham & Company LLC increased their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Piper Sandler increased their price target on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.